Centiva Capital LP Invests $382,000 in Madison Square Garden Entertainment Corp. (NYSE:MSGE)

Centiva Capital LP bought a new position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,992 shares of the company’s stock, valued at approximately $382,000.

Other institutional investors have also made changes to their positions in the company. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Madison Square Garden Entertainment during the third quarter worth approximately $219,000. Verition Fund Management LLC acquired a new stake in shares of Madison Square Garden Entertainment during the third quarter worth approximately $423,000. Captrust Financial Advisors acquired a new stake in shares of Madison Square Garden Entertainment during the third quarter worth approximately $227,000. FORA Capital LLC acquired a new stake in shares of Madison Square Garden Entertainment during the third quarter worth approximately $311,000. Finally, FMR LLC boosted its holdings in shares of Madison Square Garden Entertainment by 76.3% during the third quarter. FMR LLC now owns 110,035 shares of the company’s stock worth $4,680,000 after purchasing an additional 47,635 shares during the period. 96.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Philip Gerard D’ambrosio sold 6,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $42.43, for a total transaction of $254,580.00. Following the transaction, the executive vice president now owns 12,192 shares of the company’s stock, valued at approximately $517,306.56. The trade was a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 17.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Macquarie decreased their price target on shares of Madison Square Garden Entertainment from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Guggenheim reduced their target price on shares of Madison Square Garden Entertainment from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Morgan Stanley reduced their target price on shares of Madison Square Garden Entertainment from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Bank of America lifted their target price on shares of Madison Square Garden Entertainment from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.00.

Madison Square Garden Entertainment Stock Down 1.8 %

NYSE:MSGE opened at $36.91 on Tuesday. Madison Square Garden Entertainment Corp. has a 12 month low of $30.10 and a 12 month high of $44.14. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 3.43 and a beta of -0.04. The company’s 50 day moving average is $40.06 and its 200-day moving average is $38.48.

Madison Square Garden Entertainment (NYSE:MSGE) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.39. Madison Square Garden Entertainment had a net margin of 18.38% and a negative return on equity of 261.70%. The company had revenue of $138.70 million for the quarter, compared to analyst estimates of $139.46 million. During the same quarter last year, the firm posted ($0.73) earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts predict that Madison Square Garden Entertainment Corp. will post 1.58 EPS for the current fiscal year.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.